Harmonic Inc (HLIT)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 601,654 | 597,493 | 625,363 | 626,252 | 617,168 | 611,864 | 581,045 | 535,811 | 500,824 | 470,444 | 438,894 | 398,174 | 364,172 | 361,941 | 376,886 | 388,697 | 388,955 | 380,432 | 371,146 | 385,534 |
| Property, plant and equipment | US$ in thousands | 36,683 | 36,960 | 37,626 | 38,936 | 39,814 | 40,431 | 41,604 | 42,577 | 42,721 | 43,848 | 44,374 | 43,136 | 43,141 | 41,915 | 41,341 | 37,091 | 22,928 | 18,901 | 19,312 | 20,976 |
| Fixed asset turnover | 16.40 | 16.17 | 16.62 | 16.08 | 15.50 | 15.13 | 13.97 | 12.58 | 11.72 | 10.73 | 9.89 | 9.23 | 8.44 | 8.64 | 9.12 | 10.48 | 16.96 | 20.13 | 19.22 | 18.38 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $601,654K ÷ $36,683K
= 16.40
The fixed asset turnover ratio measures the efficiency with which a company utilizes its fixed assets to generate revenue. Harmonic, Inc. has shown consistent improvement in its fixed asset turnover over the past eight quarters, with values ranging from 12.75 to 16.84.
The upward trend in the fixed asset turnover ratio indicates that Harmonic, Inc. has been able to generate more revenue relative to its investment in fixed assets over time. This signifies that the company is effectively deploying its fixed assets to drive sales and create value for shareholders.
An average fixed asset turnover ratio of approximately 15.74 over the last eight quarters suggests that Harmonic, Inc. is efficiently utilizing its fixed assets to support its operations and drive revenue growth. This trend is favorable as it indicates that the company is effectively managing its asset base to generate sales, which is essential for sustainable and profitable operations.
Peer comparison
Dec 31, 2023